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WASHINGTON (AP) – The federal agency that insures pensions for about 41 million Americans saw its deficit nearly double in the latest fiscal year. The agency said the worsening finances of some multi-employer pension plans mainly caused the increased deficit.

NEW YORK (AP) – Citigroup has agreed to pay $968 million to Fannie Mae to resolve potential future repurchase claims on residential mortgage loans originated between 2000 and 2012.

A sizable group of the loans were originated during the U.S. housing boom. Mortgage giants Fannie Mae and Freddie Mac bought mortgage loans from banks like Citigroup in the run-up to the financial crisis. Fannie and Freddie teetered as the loans went bad, and they were effectively nationalized in 2008. The government has spent billions to keep Fannie and Freddie afloat.

Ray’s Take While most companies have abandoned pension plans for 401(k) programs, there are still countless employees counting on their pension plan to fund their retirement years. The question is: Will that pension plan still be around when the time comes?

That’s what Todd Vanderpool, then-CEO of BankTennessee, told The Daily News in 2010. It was a couple years removed from the near-market collapse of 2008. But the scars of 2008 still showed up in some of Vanderpool’s general comments about the industry.

WASHINGTON (AP) – The government says it made $62.4 million on the sale of its stock in four small banks that were bailed out during the 2008 financial crisis.

The Treasury Department announced Friday the results of its latest auction of its preferred stock in small banks. The government sold its shares for $5.1 million less than its original investment in the four banks of $67.5 million. But overall the Treasury says the investment was profitable after counting $12.1 million in dividends it received from the banks, for total income of $74.5 million.

WASHINGTON (AP) – A new law will let companies contribute billions of dollars less to their workers' pension funds, raising concerns about weakening the plans that millions of Americans count on for retirement.

Springfield, Mo.-based Collierville Assisted Living LLC has bought 7 acres in the 1500 block of Wolf River Boulevard in Collierville from Halle Acquisition Fund for $1.1 million, filing an $8.5 million construction mortgage at the time of purchase.

Start-up entrepreneurs that come up with the next world-changing investment strategy or widget are always faced with the difficult challenge of raising the initial capital needed just to get the idea off the ground.

NEW YORK (AP) – Government-controlled mortgage company Fannie Mae said Friday that its second-quarter loss widened as it continues to seek loan modifications to help reduce defaults amid the ongoing difficulties in the housing and mortgage markets.

WASHINGTON (AP) – U.S. thrifts eked out a $4 million profit in the second quarter, but the number of troubled institutions continued to rise, the government reported Wednesday.

The Office of Thrift Supervision said the small profit in the April-June period marked the industry's first positive earnings since the third quarter of 2007. It compared to a loss of $5.4 billion in the year-ago period, and $1.62 billion in the first quarter of this year.

WASHINGTON (AP) - The former director of the government's pension agency took the Fifth Amendment at a Senate hearing where lawmakers quizzed him about allegations that he had inappropriate contacts with three Wall Street firms.

As much as $75 billion of Lehman Brothers Holdings Inc. value was destroyed by the unplanned and chaotic form of the firm’s bankruptcy filing in September, according to an internal analysis by the company’s restructuring advisers.

WASHINGTON (AP) - The U.S. auto industry's problems will cost taxpayers plenty whether or not the government helps Detroit.

Just walking away and letting the struggling Big Three automakers go under would drain government coffers by about as much as the $15 billion bridge loan that lawmakers are preparing, and perhaps much more, according to outside analysts. The costs would come from lower tax collections by the federal, state and local governments and the payment of extra unemployment, pension and other benefits to unemployed or retired auto workers.

WASHINGTON (AP) - As Congress moves on the financial bailout plan, restructuring of troubled mortgages should be part of the final package, the head of the Federal Deposit Insurance Corp. said Tuesday.

WASHINGTON (AP) - The Bush administration dealt a blow to the already reeling financial services sector Wednesday, ruling that companies can't transfer their pension plans to large banks to be managed for a profit.

Officials of unions that represent Northwest Airlines Corp. flight attendants, ramp workers and reservation agents told lawmakers Wednesday they are worried Delta Air Lines Inc.’s plan to combine the two carriers could lead to lost pension benefits for employees.

More than 22,000 workers at Memphis' largest health care institutions likely will avoid a looming domino effect of failing pension plans at hospitals on the East Coast. They can thank their employers for converting pension structures from the traditional defined benefits to the newer defined contributions approach.

WASHINGTON (AP) - The government is taking action to enable more low-cost financing to be available for military veterans buying homes in pricier areas of the country.

The Government National Mortgage Association, known as Ginnie Mae, is eliminating the $417,000 cap on mortgages guaranteed by the Department of Veterans Affairs that are bundled together as securities and backed in turn by Ginnie Mae.

When a hurricane slams into Florida, investors dump shares of companies that insure homes. When a storm of defaults engulfs the bond market, investors naturally sell the companies that insure bonds. In both cases, the selloffs are often overdone.

In the 1989 movie "Field of Dreams," a mysterious voice tells Kevin Costner's character, Ray Kinsella, "If you build it, they will come," referring to the construction of a baseball field in the middle of Iowa farmland. A Chicago-based development company is taking that approach, except with a large-scale warehouse project at the northwest edge of West Memphis, Ark., touching the border of Marion.

45. Archived Article: Graphic - Tuesday, October 06, 1998 Following is a look at the top mortgage lenders in Shelby County based on dollar amounts, according to trust deeds issued in the Shelby County Register's Office Sept Union Planters National Bank and First Tennessee Bank topped the list of local mort...

46. Archived Article: Bank Moves - Thursday, October 01, 1998 By LAURIE JOHNSON First American Bank to relocate Downtown By LAURIE JOHNSON The Daily News First American National Bank is moving its Downtown Second Street branch to the Peabody Place development on South Main. Renovations are underway at Peabody ...

48. Archived Article: Back - Thursday, March 12, 1998 Company Press Release Two banks to retain names after merger Deposit Guaranty National Bank and First American National Bank will continue to operate under their current names following the pending merger of Deposit Guaranty Corp. and First American...

50. Archived Article: Govt Briefs - Friday, June 13, 1997 The U The U.S. Small Business Administration announced this week that SBA would have an additional $2.47 billion available under its 7(a) small business loan guaranty program this year. The additional resources will help the SBA resolve a funding sh...

51. Archived Article: N Miss Expo 97 Lj - Thursday, May 22, 1997 lj 10/5 cates DeSoto County expo spotlights business By LAURIE JOHNSON The Daily News With every booth sold out and more than a thousand complimentary tickets distributed, organizers of DeSoto Countys first business exposition anticipate that the ev...

54. Archived Article: Gov Analysis - Friday, May 31, 1996 gov. anal Politics of scandals By Berje Yacoubian Whitewater is no Watergate! And as Ross Perot would say, "You know it, I know it, and the American people know it." What is whitewater anyway? The American Heritage dictionary defines white...

55. Archived Article: Back - Wednesday, March 13, 1996 03-13 Back New apartments will be constructed in Southaven Church Lake Apartments, a 352-unit property, is planned for the northeast quadrant of Church Road and E. W. Ross Parkway in Southaven. The site is adjacent to the new Northwest Mississippi C...

57. Archived Article: Northwest - Thursday, December 28, 1995 12/27 jts Northwest Northwest, Bridgestone-Firestone pinch pensions By JAMES SNYDER The Daily News Northwest Airlines, the dominant passenger air carrier in Memphis, has entrenched itself on a list of 50 companies with the largest underfunded pensio...

58. Archived Article: Real Estate Back - Monday, December 11, 1995 12/11 Real estate (back) Local LP Buys Aspenwood Square Apartments for $2.2 million By ED RAINS The Daily News Aspenwood Square apartments, a 120-unit complex built in the early 1970s and located on Mendenhall Road south of Knight Arnold Road, sold ...